Finance
A Massachusetts property sold for $600,000. Using the state transfer tax rate of $4.56 per $1,000, what is the deed excise tax?
A$2,736✓ Correct
B$2,280
C$3,420
D$4,560
Explanation
Transfer tax = ($600,000 ÷ $1,000) × $4.56 = 600 × $4.
Related Massachusetts Finance Questions
- A MassHousing loan is distinguished from a conventional loan primarily because:
- A Massachusetts lender orders a 'drive-by' appraisal (Form 2055). This type of appraisal:
- A Massachusetts first-time homebuyer uses a 'down payment assistance' loan from a non-profit. This loan is often structured as a:
- When a Massachusetts mortgage is 'underwater,' it means:
- An adjustable-rate mortgage (ARM) in Massachusetts has a '5/1' structure. This means:
- A buyer is pre-qualified for a loan. This means the lender has:
- A 'bridge loan' in Massachusetts real estate is used to:
- A Massachusetts borrower with a $250,000 FHA loan puts down 3.5%. The upfront MIP (mortgage insurance premium) is 1.75% of the base loan amount. The upfront MIP dollar amount is:
Practice More Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →